Product details

Senior management at the Bank of Montreal were reviewing the development of its direct banking services, and specifically the plans for the pilot launch of a comprehensive direct banking venture in two months'' time. New technologies were enabling banks to create new channels of distribution from automatic banking machines, through telephone or telebanking, to PC-based banking. These new channels promised dramatically lower costs for the traditional banking transactions, the potential for highly targeted marketing programs and the complexities of developing new business systems to support the new product/market interface. Recent announcements and rumors about several competitors'' similar products were adding an air of urgency to the discussions.